The White House told crypto leaders at a meeting this week. Bitcoin as possible.
Bo Hines told attendees at a roundtable held by the Bitcoin Policy Institute on February 2 that the White House was intent on buying as many digital assets as possible. Bitcoin As it can be, as many attendees have said.
Hines joked that if someone asked him how much Bitcoin, the U.S. federal government would eventually buy, it was like asking them how many dollars. Decrypt.
White House officials confirmed the information. Decrypt Hines made the comment about purchasing as much Bitcoin as he could, but he also added the caveat “in a cost-neutral way” that wouldn’t charge the taxpayers any money.
A private roundtable was held after a “Bitcoin for America”. Policy SummitAmong the Bitcoin luminaries who attended were Strategy cofounder Michael Saylor; MARA Holdings’ (formerly Marathon Digital’s) CEO Fred Thiel; Anchorage Digital’s Nathan McCauley; and Bitcoin Magazine’s David Bailey. The event also included three U.S. Senators, including Cynthia Lummis(R-WY), Bill Hagerty(R-TN),and Bernie Moreno(R-OH).
At one point during the roundtable, a participant asked Bo Hines whether the White House supports the Bitcoin Act—a piece of legislation reintroduced Lummis introduced a bill in the Senate on Tuesday, which would mandate that the U.S. Government purchase up to 1 million BTC worth approximately $80 billion. It would also enshrine the Strategic Bitcoin Reserve, established following President Donald Trump’s recent announcement. Executive Order.
Hines turned back to Lummis who sat right next to him and told her that, after receiving the question from the attendee at the roundtable event, the White House will support legislation to create a Strategic Bitcoin Reserve, and they’ll exert pressure on Congress so it gets passed.
White House officials stressed to Decrypt Hines, however, did not endorse any particular piece of legislation at the event.
Around 80% of the U.S. Treasury is held by the U.S. The 200,000 BTCAcquired via civil forfeiture and criminal forfeiture. White House senior officials are Pushing the line In recent days, they have said that the government should purchase additional Bitcoins to bolster a strategic reserve as long as these purchases are “budget-neutral.”
Lummis’ Bitcoin Act may not be budget neutral. The bill calls for the U.S. to purchase some $80 billion worth of BTC at current prices—but plans to do so principally by obligating the Federal Reserve to hand over revenues that would theoretically be generated if the central bank were to have its gold certificates reevaluated at market prices. In 1971, the U.S. stopped using the gold standard. The value of gold in the United States has gone up by 6,800% since 1971.
